Caixin
Sep 27, 2022 04:03 PM
ECONOMY

China Industrial Profits Fall Further as Producer Prices Slow

Earnings slipped 2.1% in the January-to-August period compared with a year earlier, as factory gate inflation slowed to 2.3% last month. Photo: Bloomberg
Earnings slipped 2.1% in the January-to-August period compared with a year earlier, as factory gate inflation slowed to 2.3% last month. Photo: Bloomberg

(Bloomberg) — Profits at industrial firms in China shrank in the first eight months of the year as producer prices slowed, adding to economic challenges including Covid disruptions and a continued property slump.

Industrial profits fell 2.1% in the January-to-August period compared to a year earlier, data from the National Bureau of Statistics showed Tuesday. That compared with a decline of 1.1% in the first seven months of the year.

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